Hot Research PM

Schlumberger Looks Limber

Global Hunter upgraded the oilfield-services firm to Buy from Neutral.

Schlumberger showed its ability to perform admirably across all geo-markets despite difficult environments. It beat our estimates almost across the board in its margin performance aside from a 26 basis-point miss versus our forecast in the Middle East/Asia. It also announced a dramatic expansion to its buyback program that was well received.